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How are S corporations taxed? Tips for filing and reducing taxes as a pass-through entity

ThomsonReuters

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? You may wonder how the S corporation taxation generally works. The following guide offers numerous strategies and tips that owners of S corporations can use to lower their taxes, including deductions and credits.

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What’s new in sales tax?

TaxConnex

In addition to back-to-school sales tax holidays coast to coast this time of year, several states have tweaked their sales tax in favor of consumers. Alabama will lower its sales tax rate on food effective Sept. Kansas no longer taxes delivery charges , as of July 1. from 4% to 3%.

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Mastering Tax Planning: Proven Strategies to Minimize Your Tax Liabilities

MyIRSRelief

Understanding Taxation Before delving into tax planning strategies, it’s crucial to comprehend the basics of taxation. This section will provide an overview of different types of taxes, including income tax, capital gains tax, and corporate tax, and explain how they impact individuals and businesses.

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What is tax advisory?

ThomsonReuters

research and development credits) Trade and customs tax services and guidance Transfer pricing evaluation , documentation, and modification of existing policies Tax valuation services What does a tax advisor do?

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Tax Season 2021: Prepare Now (Don’t Miss These Deadlines)

LyfeAccounting

Now the biggest tax date we’re likely going to see in 2021 is April 15th because several things are due. Firstly, after you file your partnership, LLC, or S-Corporation tax returns then April 15, 2021 is coming up for you to file your personal tax returns. Education/training costs. Wrapping Up Tax Season 2021.

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Friday Footnotes: Ex-Deloitte Partner Stole Military Documents on His Way Out; KPMG Reveals Its Partnership Deed | 7.21.23

Going Concern

KPMG Rolls Out Generative AI to Tax Pros, Launches Audit Pilot [ Bloomberg Tax ] Inside KPMG, its tax professionals are leaning on generative artificial intelligence to help corporate tax departments prepare for new requirements to disclose their tax obligations by country.

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What’s Hot on Checkpoint for Federal & State Tax Professionals?

ThomsonReuters

The Inflation Reduction Act of 2022 imposes a new 15% corporate alternative (book) minimum tax on the adjusted financial statement income of applicable corporations (those with 3-year average financial statement income of at least $1 billion). Tax-exempt organizations may make this election for twelve credits.

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